Major stock indexes red; Nasdaq off most
Comm svcs down most among S&P sectors; energy leads gainers
STOXX 600 up 0.1%
US dollar ~flat; gold surges >1%; crude up >2%; bitcoin down ~3%
US Treasury 10-year yield up at ~4.19%
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S&P 500 REBALANCING APPROACHES
As we approach the quarterly rebalancing of the S&P 500 .SPX index, S&P Dow Jones Indices' senior index analyst Howard Silverblatt laid down preliminary calculations about how that might play out.
According to data calculated as of Dec. 6 close, the materials sub-sector .SPLRCM is expected to shed close to 0.5% in market value, the biggest percentage loss among the major sub-sectors, amounting to a near $5 billion change. Information technology .SPLRCT, which accounts for more than 32% of the index, is set to lose 0.2% in market value, amounting to close to $29 billion.
Real estate .SPLRCR and utilities .SPLRCU are the only two of the 11 major indexes set to increase their presence in the index, set to add a combined more than $7 billion.
On the whole, the S&P 500, which has a market value of more than $51 trillion, is expected to see a 0.188% change, equaling more than $97 billion.
Apollo Global Management APO.N and Workday WDAY.O are set to be the new additions to the benchmark index, replacing Qorvo QRVO.O and Amentum Holdings AMTM.M.
The rebalancing will be effective before trading commences on 23th December and final calculations will be based on data as of the closing values as of Dec. 20.
(Shashwat Chauhan)
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FOR MONDAY'S EARLIER LIVE MARKETS POSTS:
CHARGE IT: OCTOBER CREDIT BALANCE GROWTH BLASTS PAST ESTIMATES - CLICK HERE
WALL STREET FLAT AHEAD OF INFLATION DATA THIS WEEK - CLICK HERE
THE U.S. - RARELY SO EXCEPTIONAL - CLICK HERE
ROTATION AWAY FROM WALL STREET: CATALYSTS MISSING! CLICK HERE
EUROZONE STOCKS OUTPERFORMANCE WON'T TAKE MUCH IN 2025 CLICK HERE
STOXX GETS CHINA LIFT CLICK HERE
EUROPE BEFORE THE BELL: QUIET START, ECB COMING INTO VIEW CLICK HERE
MARKETS KEEP CALM AS SYRIA FALLS IN A RUSH CLICK HERE
Consumer dashboard https://reut.rs/3ZoAZlX
Consumer credit outstanding https://reut.rs/4itfA3v
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